1. LAND APPRAISAL
It starts with an initial no-obligation conversation with our Land Team who will discuss your land’s potential with you and arrange a site visit to carry out an assessment of its suitability for development. We have in-house legal and architectural expertise and are able to quickly determine whether your land has a realistic prospect of being developed.
If we believe your land has the potential to be granted planning permission then we will make you a written offer.
2. AGREEMENT / CONTRACT
Our offer and contract will depend on the size and planning status of your land. The most common scenarios are either a promotion agreement or option agreement as detailed below.
1. Promotion Agreement
For larger schemes typically between 20-100+ units where the land is outside of the settlement boundary, our offer is most likely to be on the basis of a land promotion agreement. This would normally last for between 2-10 years and imposes legal obligations on us to work on your behalf to try to obtain a site allocation and planning permission for your land at our expense.
2. Option Agreement/Conditional Contract
For smaller schemes where the land is within the settlement boundary, we would usually look to enter into a short term 12-18 month option, or conditional contract. This type of agreement imposes obligations on Elberry to obtain planning permission at our expense.
3. PLANNING APPLICATION
The planning process can be lengthy, complex and expensive. It is not uncommon for the planning costs on larger sites to exceed £100,000 and this amount can double if an appeal is required.
It is important to submit supporting documentation together with the application form to give the application the best chance of being approved and avoiding the need for an appeal.
However, should an appeal be necessary and have a reasonable prospect of success then Elberry would manage this process and represent you at the appeal hearing, and again we would be responsible for the costs involved.
4. SALE OF LAND
Once planning permission is granted we will work with you to agree the best way to market the land to find a buyer and to maximise the sale price. Once a suitable buyer has been found your solicitor will deal with the whole sales process through to completion and will receive the sale proceeds and pay both parties according to the terms of the promotion agreement.
Option Agreement/Conditional Contract
Once satisfactory planning permission has been granted Elberry would purchase the land from you on the terms set out in the contract.